GM and Ford Renewed Their EV Tax Credits Using a Clever Strategy: TDS

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      Good morning and welcome to The Downshift, or TDS for short.

      TDS is your comprehensive source for all the key auto industry news. Each headline is briefly summarized, with links for further exploration if you're interested. The morning edition is a bit delayed today due to a last-minute scheduling change at The Drive, so hopefully, you still have your coffee to enjoy while reading. If not, feel free to grab a refill—who’s going to stop you?

      Let’s get started.

      🚘 What I’m driving: A 2025 Genesis G80 3.5T Sport Prestige. I’ve had this large sedan for a week, and it’s been a delightful experience. Stay tuned for my review.

      💵 Ford and GM devised a clever strategy to navigate the end of the EV tax credit as October arrives: they utilized their financing subsidiaries to place down payments on available vehicles, securing those savings for future lessees, according to the Detroit Free Press. Get them while they're available!

      📈 With the EV tax credit ending, it seems to have attracted many customers to Hyundai and Kia last month. The Korean automaker reported sales increases of 14% for Hyundai and 11% for Kia through September, with Hyundai EV sales soaring by 153%, as reported by Automotive News.

      🔌 Tesla has unveiled a new Model Y Performance with a slightly extended range on a single charge and improved acceleration, reaching 60 mph from a standstill in just 3.3 seconds.

      ⏱️ In terms of 0-60 times, our friends at MotorTrend announced a new record-holder—not a Rimac, but the Lucid Air Sapphire, which completed the sprint faster than any other vehicle they’ve ever tested, clocking in at exactly 1.881 seconds.

      🔧 BMW is recalling approximately 145,000 vehicles in the U.S. due to a fire hazard associated with an overheated starter motor, according to Reuters. The recall affects the 340i, X5, and X7 models, following a recent campaign linked to the starter motor that impacted the 2 Series, Z4, and, consequently, the Toyota Supra.

      📉 Auto supplier ZF has announced the reduction of 7,600 jobs in its electric drivetrain division due to declining demand in Europe, according to Bloomberg.

      💻 Hertz has announced that you can now purchase cars entirely online as part of its move into vehicle sales. The rental giant claims its used cars go through a “rigorous 115-point inspection” and come with a “12-month/12,000-mile limited powertrain warranty.” Expect to see many ads featuring Tom Brady this football Sunday.

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